Over the past three days, gold has plummeted, losing more than $80.

This sudden drop came as a surprise to many and requires analysis of the causes and implications for traders.

Gold hits new highs as geopolitical tensions (Iran, Israel, USA) drive demand for gold as a safe-haven asset.

Central banks, especially China's, have paused gold purchases after 17 consecutive months of purchases, changing market dynamics.

The US Non-Farm Payroll (NFP) jobs report showed stronger-than-expected job growth, strengthening the US dollar and putting downward pressure on gold prices.

The downtrend in gold prices may continue, but it is necessary to prepare for fluctuations that may reverse.

Actions by central banks and geopolitical developments can greatly affect markets.

Continuous monitoring and analysis are necessary.

Recent decline in gold prices

Jun 13 2024

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